eToro Group Ltd. $ETOR Position Increased by Ibex Investors LLC

Key Points

• Ibex Investors LLC sharply increased its eToro Group stake by 1,016.9% in the fourth quarter, ending with 450,000 shares worth about $15.8 million. The stock now makes up 11.1% of the fund’s holdings and is its fourth-largest position.
• Several other major investors also added to or initiated positions in eToro, including Harel Insurance, Capital World Investors, Wellington Management, and UBS Group. This points to continued institutional interest in the stock.
• Analysts remain generally bullish on eToro, with a consensus rating of Moderate Buy and an average target price of $56.56. The company also beat earnings expectations in its latest quarter, though revenue fell 35% year over year.

Ibex Investors LLC grew its holdings in eToro Group Ltd. (NASDAQ:ETOR - Free Report) by 1,016.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 450,000 shares of the company's stock after acquiring an additional 409,711 shares during the period. eToro Group comprises 11.1% of Ibex Investors LLC's holdings, making the stock its 4th biggest position. Ibex Investors LLC owned about 0.55% of eToro Group worth $15,808,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in ETOR. Harel Insurance Investments & Financial Services Ltd. purchased a new position in eToro Group during the fourth quarter valued at $43,136,000. Capital World Investors increased its position in eToro Group by 2.6% during the fourth quarter. Capital World Investors now owns 900,903 shares of the company's stock worth $31,649,000 after purchasing an additional 22,934 shares during the last quarter. Balyasny Asset Management L.P. acquired a new stake in eToro Group during the second quarter worth about $43,397,000. Wellington Management Group LLP increased its position in shares of eToro Group by 11.0% during the third quarter. Wellington Management Group LLP now owns 555,601 shares of the company's stock valued at $22,930,000 after acquiring an additional 55,195 shares during the last quarter. Finally, UBS Group AG increased its position in shares of eToro Group by 136.6% during the third quarter. UBS Group AG now owns 534,375 shares of the company's stock valued at $22,054,000 after acquiring an additional 308,525 shares during the last quarter.

Wall Street Analyst Weigh In

Several research analysts have recently commented on ETOR shares. TD Cowen raised their price objective on shares of eToro Group from $44.00 to $52.00 and gave the company a "buy" rating in a research note on Thursday, May 14th. Cantor Fitzgerald restated an "overweight" rating and set a $52.00 price objective on shares of eToro Group in a research report on Monday, February 23rd. Canaccord Genuity Group dropped their target price on shares of eToro Group from $78.00 to $65.00 and set a "buy" rating on the stock in a research report on Wednesday, February 18th. Jefferies Financial Group increased their target price on shares of eToro Group from $48.00 to $51.00 and gave the company a "buy" rating in a research report on Monday, April 6th. Finally, Citizens Jmp increased their price target on shares of eToro Group from $85.00 to $90.00 and gave the stock a "market outperform" rating in a research note on Wednesday, May 13th. Ten investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, eToro Group has a consensus rating of "Moderate Buy" and a consensus target price of $56.56.

Insider Transactions at eToro Group

In related news, Director Shalev Eddy sold 100,000 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $41.26, for a total value of $4,126,000.00. Following the sale, the director directly owned 296,779 shares of the company's stock, valued at approximately $12,245,101.54. This represents a 25.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Hedva Ber sold 55,160 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $41.90, for a total transaction of $2,311,204.00. Following the completion of the sale, the chief executive officer directly owned 20,660 shares in the company, valued at approximately $865,654. The trade was a 72.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

eToro Group Price Performance

Shares of eToro Group stock opened at $38.23 on Monday. The company has a market cap of $3.17 billion and a P/E ratio of 16.00. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.92 and a current ratio of 3.92. eToro Group Ltd. has a one year low of $24.74 and a one year high of $79.96. The firm has a fifty day moving average of $36.60 and a two-hundred day moving average of $34.55.

eToro Group (NASDAQ:ETOR - Get Free Report) last announced its quarterly earnings data on Tuesday, May 12th. The company reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.70 by $0.21. The company had revenue of $2.44 billion during the quarter. eToro Group had a net margin of 1.90% and a return on equity of 19.79%. The firm's quarterly revenue was down 35.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.69 EPS. On average, analysts forecast that eToro Group Ltd. will post 2.76 earnings per share for the current year.

eToro Group Company Profile

eToro Group Ltd. NASDAQ: ETOR is a global multi-asset brokerage company known for its social trading platform. The company enables individual and institutional investors to trade and invest in a broad range of financial instruments, including stocks, exchange-traded funds (ETFs), commodities, indices, forex, and cryptocurrencies. eToro’s platform integrates a user-friendly interface with advanced trading tools, catering to both novice and experienced market participants.

A distinguishing feature of eToro’s offering is its CopyTrader™ functionality, which allows users to replicate the trades of selected investors on the platform.

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